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Nov 15, 2012
11/12
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maybe main street will take a real lead in this and we get retail buying. i don't see that coming. >> we will see. not going to finish positive, but not too bad to the downside. the dow down
maybe main street will take a real lead in this and we get retail buying. i don't see that coming. >> we will see. not going to finish positive, but not too bad to the downside. the dow down
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Nov 14, 2012
11/12
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that really doesn't seem to be anybody's main issue. maybe mine, maybe michael's, maybe the average american worries about it. >> rick, even if we go over the fiscal cliff, our deficit is going to be $450 billion for 2013. that's 3% of gdp. that's all of nominal gdp growth. why is that such a big deal? >> well, exactly. the president talked about $1 trillion for the upper 2%. of course, he assumed everybody knows it's over ten years. we all know over the last three we're well over $1 trillion. >> all right, guys. you say the fiscal cliff in and of itself isn't going to matter, but why do so many ceos and financial planners say they have so many people who are holding back from making future plans, making investments in this economy because they are worried about if very issue right now? >> i'm worried about it too. that's why i raised so much cash. at the end of the day, they're going to punt and stay drunk to avoid a hangover. that's what they have done 74 times since 1960. they've raised the debt ceiling. they've punted on austerity.
that really doesn't seem to be anybody's main issue. maybe mine, maybe michael's, maybe the average american worries about it. >> rick, even if we go over the fiscal cliff, our deficit is going to be $450 billion for 2013. that's 3% of gdp. that's all of nominal gdp growth. why is that such a big deal? >> well, exactly. the president talked about $1 trillion for the upper 2%. of course, he assumed everybody knows it's over ten years. we all know over the last three we're well over...
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Nov 12, 2012
11/12
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so, there are really three main things. have you to look at the opportunity of the holdings that you have. you have to look at the gains that you've already accumulated. and then it becomes a math equation in terms of getting out of a position and then re-entering a position. so, it's a little more complicated than just a blanket statement to sell and get back in. >> well, i mean, i always was taught, you buy and sell for fundamental reasons or your own personal needs. taxes take a little lower priority, you know, in that case. is that what you're saying? >> the thing s i mean, we all know in this business that the saying goes, don't let the tax -- don't let the -- >> yeah, we get it. we know what you're saying. >> so, no, i don't think that's the case. the reality is we have to look at where we are today, where we may be next year. you always have to look at why you're holding a position and where you might go with a position. my fear in all of this, is that you have investors out there that really don't understand. i have
so, there are really three main things. have you to look at the opportunity of the holdings that you have. you have to look at the gains that you've already accumulated. and then it becomes a math equation in terms of getting out of a position and then re-entering a position. so, it's a little more complicated than just a blanket statement to sell and get back in. >> well, i mean, i always was taught, you buy and sell for fundamental reasons or your own personal needs. taxes take a little...
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Nov 13, 2012
11/12
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. >> now they're even losing market share when it comes to their main business. android also taking some market share there. a lot of people wonder if the death of the pc is going to mean even worse things from microsoft. i mean, sometimes great companies are not great stocks. >> well, they're a mature company. we all know that. they're a very big company. they're a very rich company, but they're not the fastest, most entrepreneurial company. >> does microsoft, the name, resonate with your kids? >> not anymore. >> the way google, the way apple does? >> used to. xbox was big in our house. not anymore. halo 4 selling well, but it's not as big as -- we mentioned that "black ops 2" game. it's supposed to be the biggest in the world right now. it's outselling "halo 4." >> that's their key to the consumer, the video game part of the business. >> well, we'll see what's up their sleeve next. we'll take a break, come back with the closing countdown. >> then you will not want to miss the double dose of exclusives we have in the next hour of the "closing bell." i'm talking
. >> now they're even losing market share when it comes to their main business. android also taking some market share there. a lot of people wonder if the death of the pc is going to mean even worse things from microsoft. i mean, sometimes great companies are not great stocks. >> well, they're a mature company. we all know that. they're a very big company. they're a very rich company, but they're not the fastest, most entrepreneurial company. >> does microsoft, the name,...
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Nov 9, 2012
11/12
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. >> he's all about main street. he doesn't care about wall street. >> could be. could be. >> we'll know soon. thank you, guys. >> thanks, everybody. >> well, the bias i'm told, maria, is to the downside. in fact, we're dipping back into negative territory for the dow. down a fraction right now. >> what volatility. what a day. don't anywhere. we have a huge show ahead for you on this special edition of the "closing bell." jamie dimon and more coming up. >>> coming up, maria means business. two major market movers talking exclusively to maria from the jpmorgan napa tech conference. first, the president's former top economic adviser larry summers reacts to the standoff in washington over the looming fiscal cliff. >> it could be the year we begin to solve our debt through tax reform and entitlement reform. >> we're serious about reducing the deficit. we have to combine spending cuts with revenue. that means asking the wealthiest americans to pay a little more in taxes. >> can a deal get done before the january 1st dead line? hear what he thinks straight ahead. >>> th
. >> he's all about main street. he doesn't care about wall street. >> could be. could be. >> we'll know soon. thank you, guys. >> thanks, everybody. >> well, the bias i'm told, maria, is to the downside. in fact, we're dipping back into negative territory for the dow. down a fraction right now. >> what volatility. what a day. don't anywhere. we have a huge show ahead for you on this special edition of the "closing bell." jamie dimon and more coming...
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Nov 27, 2012
11/12
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says one area we could cut spending is corporate subsidies and wall street must share the burden with main street. the congressman of arizona says the spending cuts and higher taxes are key to getting a deal done before the looming deadline. >> and if we can't get a sensible deal, he says he's willing to go over the cliff rather than make a bad deal. here to make his case is the congressman. he's also co-chair of the house progressive caucus. sir, good to have you here. >> welcome. >> thank you. >> you're really willing to go over the fiscal cliff? what is it you would not do that you think is preferable to go over the cliff on december 31st? >> i think it would be bad, not only politically, but economically, for us to turn our back on investments, for us to accept that social security will be changed, that benefits will be reduced, that medicare will be changed, benefits will be reduced, that we'll throw medicare under the bus. poor people, disabled people will get less and less attention regarding their health needs and their needs in life. i think those in the long-term are going to hur
says one area we could cut spending is corporate subsidies and wall street must share the burden with main street. the congressman of arizona says the spending cuts and higher taxes are key to getting a deal done before the looming deadline. >> and if we can't get a sensible deal, he says he's willing to go over the cliff rather than make a bad deal. here to make his case is the congressman. he's also co-chair of the house progressive caucus. sir, good to have you here. >> welcome....
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Nov 23, 2012
11/12
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we all know that how important main street is to the vitality of local communities. they do all of the above and they certainly do know how to compete. what they don't have is ways to make their voice heard against all the promotions around black friday. small business saturday is really their day to get the word out for americans to shop small p pfer to support the mom and pop retailers, stores, than the big box retailers. >> that's right. so get out there tomorrow for that. >> thank you for getting the word out. >> ed gilligan of american express. >>> before we go, the markets closed early because of the holiday and it was a very good day for the bulls. rallying 172 points on the dow. the nadz was up 40. the s&p 500 up 18 points. each of them up about 1.33% totoday. we're essentially back to levels we saw before the election. >> that's absolutely right. indeed we did close at the highs of the day. you felt the momentum the last ten min o
we all know that how important main street is to the vitality of local communities. they do all of the above and they certainly do know how to compete. what they don't have is ways to make their voice heard against all the promotions around black friday. small business saturday is really their day to get the word out for americans to shop small p pfer to support the mom and pop retailers, stores, than the big box retailers. >> that's right. so get out there tomorrow for that. >>...
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Nov 21, 2012
11/12
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FBC
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i think they're all behind the security lines killing each other, but in the main concourse is not so bad for as much trouble as we have had today. cheryl: maybe they have decided i will take a huge, deep breath before i arrived. >> look at this, they are headed off, they're happy, they don't care. cheryl: jeff flock, thank you very much, we will see you soon. 40 minutes to go until the bell rings before the holiday. are you looking for that special something for your kids, your grandkids? it is actually, i don't wear them, but teenagers obsessed with these shoes. tony chen coming up next. keep it here. p@ want to try to crack it? yeah, that's the way to do it! now we ed a little bit more... [ male announcer ] at humana, we understand the value of quality time and personal attention. which is why we are proud to partner with heth care professionals who understand the difference that quality time with ourembers can make... that's a ry nice cake! ohh! [ giggles ] [ male announcer ] humana thanks the physicians, nurses, hospitals, pharmacists and other health professionals who helped u
i think they're all behind the security lines killing each other, but in the main concourse is not so bad for as much trouble as we have had today. cheryl: maybe they have decided i will take a huge, deep breath before i arrived. >> look at this, they are headed off, they're happy, they don't care. cheryl: jeff flock, thank you very much, we will see you soon. 40 minutes to go until the bell rings before the holiday. are you looking for that special something for your kids, your...
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Nov 20, 2012
11/12
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that was the point where as pretty much the last of the main management team had become incredibly frustrated with this and the bureaucracy and losing so many people. that's when i went. >> have regulators contacted you? >> no, we've had no contact from hewlett-packard, from regulators, from anyone. all we have is a press release. >> so you were blind sided by this. you heard this in the news and through a press release. no one called you from hp? no one has alerted to you this in in the past weeks and months to tell you they believe this was complete fraud at autonomy? >> no, last time i met with hewlett-packard was in june when i was invited to a meeting to discuss transition and leave. there, some deals were brought up. i explained how they worked as part of the transition period. i've heard nothing until this press release today. >> how often was autonomy audited? who was in charge of those audits? >> autonomy was audited quarterly just like a u.s. business. those were done by delloyd. >> have you exacted them about these allegations? what have you done since reading about this in the pre
that was the point where as pretty much the last of the main management team had become incredibly frustrated with this and the bureaucracy and losing so many people. that's when i went. >> have regulators contacted you? >> no, we've had no contact from hewlett-packard, from regulators, from anyone. all we have is a press release. >> so you were blind sided by this. you heard this in the news and through a press release. no one called you from hp? no one has alerted to you...
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Nov 27, 2012
11/12
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it's 1.4 of gdp for the main income earners. it's 0.25 for the rich, for the 1%. either way, it's a knock on gdp. this is political theater. either extend them for all or why are we playing this game? >> well, we're pretending we care about debt for a couple of weeks to put this little show on. at the end of the day, we go on. bernanke is going to come on and make a speech, preaching to washington. he's still underwriting all of this debt. he's more worried about the fact that we retrench too much as far as spending goes rather than if we keep going with the debt. he's more worried about austerity than anything. >> oh, we've become such a cynical lot, haven't we? we've got it all figured out. >> took you long enough, bill. >> in parting, one last note. if there is just a patchwork, if there is just a quick fix to this issue, we already know we're going to get another downgrade. i don't believe -- >> but will that matter? we got a downgrade last year. >> prior to that downgrade, the market caved. the market was anticipate toir. >> it was europe. all right. thank yo
it's 1.4 of gdp for the main income earners. it's 0.25 for the rich, for the 1%. either way, it's a knock on gdp. this is political theater. either extend them for all or why are we playing this game? >> well, we're pretending we care about debt for a couple of weeks to put this little show on. at the end of the day, we go on. bernanke is going to come on and make a speech, preaching to washington. he's still underwriting all of this debt. he's more worried about the fact that we retrench...
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Nov 28, 2012
11/12
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one of the main issues that is causing college tuition to go up is that state aid is decreasing, so they have to rely more on tuition. and there's this whole issue of demand. everybody thinks that they need a college degree. >> scott, we got to run. i have to ask you a quick question. as the unemployment remains high, and we have such a jobs crisis in this country, are we at risk of more defaults on student loans, a real bursting of a bubble? >> we're at risk of more defaults. we're at risk of a whole generation of people that should be at their greatest earning power, being burdened by these student loans. the good issue for the taxpayers is that you can't walk away from a student loan the way you can from a mortgage. so people will ultimately have to pay these back. >> yeah, it's the only thing you can't get out of no matter what. all right. thank you, guys. coming up next, should new york and new jersey fork over some of the proceeds from tonight's $550 million powerball lottery to help hurricane sandy victims? >> we're going to talk about that on the other side of the break. keep it
one of the main issues that is causing college tuition to go up is that state aid is decreasing, so they have to rely more on tuition. and there's this whole issue of demand. everybody thinks that they need a college degree. >> scott, we got to run. i have to ask you a quick question. as the unemployment remains high, and we have such a jobs crisis in this country, are we at risk of more defaults on student loans, a real bursting of a bubble? >> we're at risk of more defaults. we're...
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Nov 2, 2012
11/12
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i think that was the main problem. the other problem, and this may have been more important the second half of the day, was apple. when we hit 588 on apple, around the time of 1:00, 1:15 in the afternoon, there's the intraday. you'll notice it just collapsed. the volume picked up rather noticeably. that was the 200-day moving average. that's important. apple has not below the 200-day moving average since november of last year. that was a major factor. look at the dow in the middle of the day. the dow drooped right after apple started breaking down. again, around 1:15 or so. it was weak before that. we did have weakness in materials and energy stocks as the dollar was strong. i think that was a factor. but i also think apple really mattered a lot. wouldn't it be nice to have a stock like restoration hardware go public today? in a week where we need restoration. that's what happened. went public at 24. it opened at 32 and closed not far from that price. great day for that company. finally, maria, for the week, no the muc
i think that was the main problem. the other problem, and this may have been more important the second half of the day, was apple. when we hit 588 on apple, around the time of 1:00, 1:15 in the afternoon, there's the intraday. you'll notice it just collapsed. the volume picked up rather noticeably. that was the 200-day moving average. that's important. apple has not below the 200-day moving average since november of last year. that was a major factor. look at the dow in the middle of the day....
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Nov 30, 2012
11/12
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besides raising taxes for the rich, one of the main key stick points over the fiscal cliff debate is whether to cut entitlements. dean baker says that's not the reason for our deficit problems. so they should not be on the table right now. we also have j.d. foster of the heritage foundation who says mr. baker's numbers don't add up. good to see you, gentlemen. thanks for joining us. dean, make the case. >> well wit, it's very simple. if you look at projections, we had low-budget deficits, 1.2% gdp until the economy collapsed the housing bubble. the reason why we have large budget deficits today is pure and simple. the economy collapsed and the deficits are what's supporting demand. why are we suddenly running around like chickens with our heads cut off to cut social security and medicare when those programs are needed more than ever? >> so you think we should keep spending on those programs? >> i think we need to protect retirees. they took a big hit when their house prices collapsed to then turn around and whack them again by taking away their social security and medicare doesn't ma
besides raising taxes for the rich, one of the main key stick points over the fiscal cliff debate is whether to cut entitlements. dean baker says that's not the reason for our deficit problems. so they should not be on the table right now. we also have j.d. foster of the heritage foundation who says mr. baker's numbers don't add up. good to see you, gentlemen. thanks for joining us. dean, make the case. >> well wit, it's very simple. if you look at projections, we had low-budget deficits,...
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Nov 13, 2012
11/12
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the main points we've been making are simplification and certainty. a lot of the ceos i talk to, you ask them, what would it take for you to invest in the united states? they say, just tell me what the rules are going to be. i'm happy if the net tax rate is higher. i'm okay with that, but you have to tell me what it's going to be. then i can get down to the business of making the investments in the u.s. that's why i'm involved. >> it seems to absurd everyone is just digging in. you just heard tim geithner. he said basically the president has said repeatedly that he's not going to extend any tax cuts for the higher end earnings even though that money on that small portion of people is not going to move the needle anyway. >> it's not going to move the needle. i think what we should do is take a big step back, take a deep breath. i know you mentioned earlier the president is meeting with some business leaders tomorrow. >> were you invited? >> if was not. i think the group going is a great group. i don't know if it's so important which ones of us are ther
the main points we've been making are simplification and certainty. a lot of the ceos i talk to, you ask them, what would it take for you to invest in the united states? they say, just tell me what the rules are going to be. i'm happy if the net tax rate is higher. i'm okay with that, but you have to tell me what it's going to be. then i can get down to the business of making the investments in the u.s. that's why i'm involved. >> it seems to absurd everyone is just digging in. you just...